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Message
re: Oil Wars: Why OPEC Will Win
Posted on 12/15/14 at 3:05 pm to stevengtiger
Posted on 12/15/14 at 3:05 pm to stevengtiger
quote:
Don't think he saw that line was at $80 per barrel.
Saudi needs over $80 for their budget.
2
Posted on 12/15/14 at 3:34 pm to JayDeerTay84
quote:
Saudi needs over $80 for their budget.
This is oversimplified. Saudis could still support their entire budget on oil sales alone at a lower price per barrel if they increase market share.
They also have $1 trillion in cash reserves to draw upon for this very reason. They would not have to completely cover their budget from oil sales for years to come.
All of this also assumes that the Saudi people will automatically revolt if the budget is cut at all which is not the case.
Posted on 12/15/14 at 3:41 pm to JayDeerTay84
quote:
Saudi needs over $80 for their budget
Think of it as we both worked at the same company and made the exact same amount. And our company just out of the blue made everyone take a 50% pay cut. You are mortgaged to the hilt and have a lot of outstanding credit. I have about 5 times my annual salary in savings.
You will have to quit. I can weather the storm for a while.
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